New Strategies for Estate Planning: Leading Lawyers on

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If the deceased's tax affairs had not been recorded properly, the executor might experience problems in obtaining all the information and completing the necessary returns. If you have any additional questions for our Trusts and Estates team, please feel free to contact us directly. Recent studies have confirmed their findings. For example: More than 40 wills and trusts, including… Will for Unmarried Testator With Pot Trust.

Are You Prepared - A Practical Guide to Putting Your Affairs

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The development of a typical estate plan will involve several discussions and correspondence between you and our attorneys to assure that your desired goals are implemented. Trusts While most people have heard of a trust, they are often not well-understood by people who are not in the financial services or legal industry. First, it must be possible to identify clearly the property which is to be subject to the trust. Since 1973, our Illinois estate planning attorneys have helped clients throughout the Chicago area, including Cook and Lake Counties, with a wide variety of estate planning and business succession needs.

Wants, Wishes, and Wills: A Medical and Legal Guide to

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While a revocable living trust is not for everyone, it is for a lot more people than most attorneys think, and the same attorneys either find or repeat what I see as some the most ridiculous reasons and use bumper sticker sayings that, intentionally or not, perpetuate the agony of probate for more and more families. It is vital to read and understand the trust deed, as it is the source for the powers and responsibilities of the trustee and for the tax-effective distribution of trust assets.

Law of Trusts (Handbook Series)

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The way this type of trust works is that a portion of the trust's income is first donated to a charity, and after a specified period of time (usually until all taxes are reduced), it transfers the remainder of the trust to the trust beneficiaries. If LawForms releases a new version within a year of purchase you are entitled to receive that update for FREE! ANSELL GRIMM & AARON, PC is skilled in the preparation and administration of estate plans, wills and trusts.

The Complete Living Trust Kit: An Essential Guide to Control

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You are encouraged to seek tax or legal advice from an independent professional advisor. This is particularly important in the case of minors, or major beneficiaries who are not good with finances or are incapacitated. Minimizing estate taxes and exposure to the probate process are also important elements of estate planning. Revocable trust: Also known as a living trust, a revocable trust can help assets pass outside of probate, yet allows you to retain control of the assets during your (the grantor’s) lifetime.

Contemporary Issues in Wills, Trusts & Estates

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Our lawyers keep up to date with any changes that may affect our clients' rights and ultimate goals. Contact us today by calling 281-362-2865. Reviewing with our clients their family values and objectives and their wealth array, we help them develop a path to their tax and personal goals. The material found on this site is for general information only. You may have a significant amount of wealth in life insurance policies and your retirement accounts.

Living Trusts (Made E-Z Guides)

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The proposed amendments to the Income Tax Act create two new inter vivos trusts, the Alter Ego (meaning “other self”) Trust and the Joint Spousal Trust. The QDOT can be created post-death provided that the property is transferred to the trust or is irrevocably assigned prior to the estate tax return due date. We also provide trust attorney services, creating revocable living trusts, charitable trusts, special needs trusts, living wills, and financial and medical powers of attorney.

Guiding Those Left Behind in Minnesota

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These brokerages sell your life insurance policy to institutional investors for typically three to five times the cash surrender value of the policy. When you call, just let our staff know what your needs are, and we will move mountains to accommodate you. We take the time to help our clients understand difficult concepts, we're patient and we guide our clients through each phase of their matter. It’s time to join EBTEL or renew your EBTEL membership for 2016.

Family Wealth: Keeping It in the Family--How Family Members

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Suite 47 #230 Western Springs, IL 60558 Telephone (708) 357-3317 If you would ike to contact us via email please click here. While this can create some problems, if the rest of the accounts have a joint owner, you can skip probate. In addition to the time saving (even a simple probate will normally take six months or longer), this may save considerable expense to the successors. This allows us to counsel clients on the most tax efficient manner in which to execute their intentions, while preserving their ultimate family goals.

Policy Making for Public Library Trustees

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Estate planning is not just for “the wealthy,” either, although people who have built some wealth do often think more about how to preserve it. We assist clients in planning for wealth transfers during life and at death (estate and gift tax planning), succession planning, preparation and review of various documents and techniques, including wills, revocable trusts, charitable trusts, life insurance and other irrevocable trusts, family limited partnerships, and the administration of trusts and estates after death (including probate).